Apple gains on Comcast talk, new iPhone buzz

Nu Skin rises after Chinese regulators issue small fine

SAN FRANCISCO (MarketWatch) — Apple Inc. advanced Monday on talk of a deal with Comcast Corp. for a new television offering and Wall Street chatter that demand for the new iPhone is likely to be robust.

Nu Skin Enterprises Inc. shares also got a lift after Chinese regulators gave the firm a small fine that was much lighter than what Wall Street had expected.

Apple
AAPL, -1.54%
gained 1.2% on reports the technology giant may team up with Comcast Corp.
CMCSA, -0.25%
to create a new streaming-television service. The news, reported in The Wall Street Journal, suggests that while the talks are still preliminary, their completion could open up a new level of cooperation between tech companies and cable providers. Comcast shares were up 0.6% and Netflix Inc.
NFLX, -1.39%
shares slumped 6.7% after falling below its 50-day moving average on Friday.

Several analysts also suggested that Apple may unveil its latest iteration of the iPhone in late summer or early fall and that interest in iPhone 6 remains strong.

“Demand and supply checks suggest near-term iPhone and iPad volume could exceed our estimates, while the outlook for iPhone 6 remains solid,” said analyst Andy Hargreaves at Pacific Crest in a report.

Gainers

Nu Skin Enterprises
NUS, -0.41%
surged 18% after Chinese authorities said they would fine the direct-marketing company $540,000 over its sales and marketing tactics. The stock jumped in relief that no further action was taken. The company had said last week that it expects to be fined and potentially face other sanctions in China.

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